If one of your goals in 2018 is to change your life by finally starting that new business venture, you’re going to have to get serious. Here are six basic steps you will need to take to get your business off the ground and start living the life of your dreams:
1. Set Your Mind and Do Your Research
First of all, you’re going to need to really narrow down exactly what it is you want to do. Whether it’s starting your own travel business, selling designer fashion apparels or becoming a professional blogger; you’re going to want to start researching every aspect of the industry, its strengths and weaknesses, and what you will need to do to give yourself the best possible chance of success.
2. Draw Up a Business Plan
You can’t just apply for a business loan and expect to get one if you haven’t crunched the numbers and created a detailed business plan that takes into account all eventualities that could come up in the course of your business. Most lenders will want to see a business plan that covers 5-10 years into the future, so this won’t be easy, but it is essential.
3. Secure Financing
Once you have your business plan, it’s time to start seeking that much-needed finance. It’s always worth trying the banks first, but if you strike out with them, don’t worry because there are many other avenues that could prove more fruitful, from crowdfunding to angel investors. The key is to not give up at the first hurdle – keep going until you convince someone that your idea is worth investing in!
4. Make it Official
If you have secured the funds you need, and you’re ready to start trading, make it official! How you do this will depend wholly on where you are operating from, but a good corporate lawyer will be able to tell you what you need to do to incorporate your business and start trading wherever you are. Yes, they are expensive, but if you want your business to be set up right from the start, it’s money well spent.
5. Trademark Your Business
Once that’s all sorted, you may want to consider trademarking various aspects of your business so that they cannot be copied or stolen by other people. Even if you aren’t selling unique products, it is probably a good idea to trademark your business name if you want to ensure that other companies can’t piggyback off it and possibly bring your company into disrepute by association.
6. Work Hard
Now, the hard work really begins. It’s rare for a new business not to struggle in those first few years, but you need to stick with it, keep working hard and never stop striving if you want your company to be one of the few that are still around in 5 years’ time.
So many people with great business ideas never do anything about it and many of those who do give up way too soon. Don’t be one of them, take these simple steps to get your business off the ground and be the success you know you can be!